813 B
813 B
title, tags, up
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| Nirvana Fallacy |
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fallacy |
Nirvana Fallacy
The nirvana fallacy, also called the "perfect solution fallacy", is the mistake made when a solution proposed to replace one existing is judged against a hypothetical perfect solution rather than the solution in current use.
[!quote] demsetz_1969_information The view that now pervades much public policy economics implicitly presents the relevant choice as between an ideal norm and an existing "imperfect" institutional arrangement. This nirvana approach differs considerably from a comparative institution approach in which the relevant choice is between alternative real institutional arrangements.